Company Summary --a factual description of your company, ownership, and history. Market Analysis -provides a summary of your typical customers, competitive landscape, market size, and expected market growth. Strategy and Implementation -describes how you will sell your product, how you will put your plan into action, and establishes milestones. Management Summary -provides background on the management team, their experiences, and key accomplishments.
Financial Plan -contains key financials including sales, cash flow, and profits. Sitting down looking at a blank computer screen as you prepare to start your business plan can be daunting. You may want to look at some alternatives that will make the process a bit easier. Hire a Professional A professional consultant will create the business plan for you, but you still have to be prepared to think through your business and understand the underlying concepts in your business idea.
You will have to work closely with the consultant to ensure that he or she develops a good plan that accurately represents your business or business idea. You can find a list of business planning consultants at www. Buy a Book There are many good books on the market that will help you to understand what needs to go into a good business plan.
Use Business Planning Software A good business planning software package will provide you with an outline for a well-developed, objective-based and professional business plan. Software packages will remove the problem of starting from scratch by structuring your plan for you. The software should ask you the right questions that will pull out the most important underlying concepts within your business idea.
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Start Business. Internet Marketing. Home Business. However, in general you have to show that you're committed to your venture and that you have the expertise, skills and self-confidence necessary to make it all happen.
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Include a description of exactly what you're proposing. Ask yourself: Who your customer is, what business are you in exactly, what do you sell, and what are your plans for growth?
Address how your goods or services will appeal to customers. Make sure you show your lender that you've done your homework. Basically, your market research helps you understand your customer needs so that you can offer a product or service that precisely fits those needs.
Business Plan Basics
You'll need to provide information such as your target market, customer demographics, competition and distribution methods. Provide information on competitor weaknesses and strengths and show how you intend to improve on what they're doing. Use organization charts to clearly spell out the roles of key management people and the proposed size of your organization.
You should include information on how you plan to recruit and maintain your employees or handle outsourced work. Do an assessment of the company's needs with regard to premises and capital goods such as machinery, technological equipment. Be sure to modify your information depending on your target audience. For example, your bank will be interested in how you intend to repay the loan or overdraft, what you intend to do with the money and how it will help your business grow.
Write a business plan
Potential investors will also want to see the expected return and sources of funding , while shareholders are looking for the prospect of the share price and what dividend they can expect on their shares. Generally, lenders, shareholders and investors want facts and figures that back up what you say. Address issues such as taxes, liability concerns, information on proprietorships, partnerships, limited or incorporated companies. If you're buying an existing business , be sure to clarify buy-and-sell agreements.
Keep in mind that you should have a lawyer look over all contracts and legal issues. It helps to write this last; a page or two of highlights is sufficient.
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Be sure to clarify whether this is a new business venture, an expansion of an existing business or the purchase of a new business. Start or buy a business Start your business Buy a business Business strategy and planning Money and finance Marketing, sales and export Employees Operations Technology Change of ownership Entrepreneurial skills Entrepreneur's toolkit Blog. Search articles and tools. How to write a business plan. Make it thorough but keep it simple Many entrepreneurs may see putting a business plan together as a daunting task involving hundreds of pages.
Here's the core content that you should consider. Your business proposal Include a description of exactly what you're proposing.
Your unique selling point Address how your goods or services will appeal to customers. Market analysis Make sure you show your lender that you've done your homework.